It's a Seniors Time to Review & Compare
Dec 2008
From now till December 31st seniors have an opportunity to review and
compare Medicare plans. This is Medicare's annual open enrollment
time. And its also the chance to look at the prescription drug plan
(Part D) to see if it would beneficial.
It's important to enroll in a
Medicare Supplement Health Insurance
Plan. If you are new to Medicare, this is the time to gather
Your information and decide on a supplemental plan suited to you and your wallet.
What is Medicare?
It's the nation's largest health insurance
Program, covering nearly 40 million Americans. It's for people ages 65
or older, for some disabled people under the age of 65, and for
those of any age with End-Stage Renal Disease (permanent kidney
failure being treated with dialysis or a transplant).
Medicare is divided into four different parts
Part A - Hospital insurance, covering inpatient care in hospitals, and
helps cover skilled nursing facility, hospice and home health care.
Part B – Medical insurance, which helps cover doctor's service and
outpatient care, and helps with some preventive services to help
maintain your health.
Part C – Like an HMO or PPO Medicare Advantage Plans. This health
coverage choice is run by private companies approved by Medicare. It
includes Part A, Part B, and usually other coverage including
prescription drugs.
Part D – Helps cover the costs of prescription drugs and may help
lower your prescription drug costs as well as help protect against higher costs in the future.
Most seniors are concerned about the increasing costs of prescription
drugs, and according to an article in the Dallas Star-Telegram, the federal Medicare Part D prescription drug program
is working, and delivering on its promise to save money for seniors
through affordable premiums and low co-payments. The
Star-Telegram article indicates "The good news is that this program works. In fact, a recent national survey of seniors for 'Medicare Today' shows that
nearly 71% say they have reduced their spending on prescription
drugs."
Facts on:
Medicare
Did you know...
Nearly 71% of seniors say they have reduced their spending on prescription drugs?
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Medicare supplemental plans differ from State to State, and premiums
and benefits change every year. Just as a senior may find that their
prescription drug needs are different from before. While the drug
benefit plans are available in every state, options vary in costs and
what drugs are covered. To be sure you have the best coverage, compare current plans with www.medicare.gov and use the Medicare
Options Compare tool.
Medicare also provides help for those with limited income and
resources as well as 'Extra Help' for Medicare prescription drug coverage (Part D). To see if you qualify for this, or for questions on any other part of Medicare's programs, you can call the
Social Security Administration number 1-800-772-1213 or visit
www.socialsecurity.gov.
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